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Wage against the machine: The Daily Show takes on inequality (VIDEO)

Humor, economics, and good old American douchebaggery.
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President Barack Obama delivers the State of the Union address to a joint session of Congress in the House Chamber at the US Capitol on January 28, 2014 in Washington, DC. (Chip Somodevilla/AFP/Getty Images)

BOSTON — President Obama, blah blah blah, economic inequality, yadda yadda yadda.

That's what much of Twitter sounds like today following Tuesday night's State of the Union address by President Barack Obama.

And, yes, the issue is a critically important one, as GlobalPost has reported extensively here.


Obama vows to bypass Congress in fiery State of the Union (VIDEO)

Facing a scandal-weary American public and record-low approval ratings, President Barack Obama vowed to go it alone and bypass Congerss "wherever and whenever" possible in his fifth State of the Union address Tuesday night.

Channeling FDR, Obama puts income inequality front and center

For the first time since the Great Depression, when Franklin D. Roosevelt demanded ”a permanent readjustment of many of our ways of thinking and therefore of many of our social and economic arrangements,” an American president Tuesday night turned his State of the Union address into a sustained attack on inequality of income and the yawning gap between rich and poor in American society.

Marco Rubio responds to Obama's State of the Union address

“The tax increases and the deficit spending you propose will hurt middle class families,” Rubio, a rising star in the Republican Party, said.

State of the Union: Obama focuses on jobs, economy

"It is our unfinished task to restore the basic bargain that built this country – the idea that if you work hard and meet your responsibilities, you can get ahead, no matter where you come from, what you look like, or who you love," Obama said.

Obama touts another green company in State of the Union. It immediately goes bankrupt.

Maybe President Barack Obama should stop talking about green energy companies. Immediately.
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US President Barack Obama speaks at the Democratic National Committee's Lesbian Gay Bisexual Transgender Leadership Gala in New York, June 23, 2011. AFP PHOTO / Saul LOEB (Photo credit should read SAUL LOEB/AFP/Getty Images) (SAUL LOEB/AFP/Getty Images)

Perhaps President Obama should stop talking about green energy companies. 

Every time he does, it seems, they go bankrupt.

It happened again today, according to Bloomberg/Businessweek.

Just two days after Obama touted his adminstration's green energy programs, Ener1, an electric battery maker that received a $118 million grant from the US Department of Energy, filed for Chapter 11 bankruptcy protection.


Here's what President Obama said Tuesday night in his State of the Union address, in reference to Ener1:

“In three years, our partnership with the private sector has already positioned America to be the world’s leading manufacturer of high-tech batteries."

And here's what Bloomberg/Businessweek is reporting about today's news:

The company listed assets of $73.9 million and debt of $90.5 million as of Dec. 31 in court papers filed in U.S. Bankruptcy Court in Manhattan. Ener1 has been affected by competing battery developers in China and Korea, “which generally have a lower cost manufacturing base” and lower labor and raw material costs, interim Chief Executive Officer Alex Sorokin said in the petition.

According to an Energy Department statement cited by The Hill:

“While it’s unfortunate that Ener1, the parent company, has entered a restructuring process, the new infusion of $80 million in private capital demonstrates that the technology has merit,” Energy Department spokeswoman Jen Stutsman said in a statement.

This is the second high-profile embarrassment for the Obama administration's plans to support the US alternative energy industry.

More green energy coverage from GlobalPost: Powerland, adventures in urban energy

Solar panel maker Solyndra, which received $535 million in government loan guarantees, went bankrupt in September.

Don't expect a strategy shift away from green energy, though.


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